BNB Chain is Winning the Meme Coin Battle from Solana

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Bitget Academy2025/04/02 04:56

By:Bitget Academy

BNB Chain is seeing a surge in meme coin activity, while Solana, its main competitor, faces setbacks. For most of 2024 and early 2025, Solana dominated the meme coin space with projects linked to celebrities and politicians. However, a scandal involving the Argentine president’s meme coin shook investor confidence, opening the door for BNB Chain to step in.

BNB Chain has capitalized on this shift by launching Four.meme, a meme coin platform similar to Solana’s Pump.fun, and running daily competitions to support new tokens. As a result, PancakeSwap, its largest decentralized exchange, saw a massive increase in trading volume, surpassing many other networks.

Binance’s support has played a key role in BNB Chain’s resurgence, especially with initiatives like the Meme Liquidity Support Program, which provides funding for top-performing memecoins. While Solana still leads in overall activity, BNB Chain is proving that it can attract retail traders and drive high transaction volumes when market conditions are favorable. Experts believe this trend is part of a broader cycle, with interest shifting between different blockchain ecosystems over time.

Source: Cointelegraph

Futures Market Updates

In the past 24 hours, BTC futures saw an increase in open interest (+3.89%) and trading volume (+8.43%), while ETH futures experienced a decline in open interest (-1.90%) despite a rise in volume (+5.64%). Both markets had significantly more short liquidations than long liquidations, with BTC shorts liquidating $50.22M and ETH shorts liquidating $33.65M. The long/short ratio for BTC was nearly balanced at 49.96%/50.04%, whereas ETH had a slight long bias at 50.77%/49.23%. Additionally, ETH’s funding rate (0.0054%) was more than double BTC’s (0.0022%), indicating stronger long-side demand in ETH futures.

BTC Futures Updates

Total BTC Open Interest: $54.72B (+3.89%)

BTC Volume (24H): $96.80B (+8.43%)

BTC Liquidations (24H): $21.81M (Long)/$50.22M (Short)

Long/Short Ratio: 49.96%/50.04%

Funding Rate: 0.0022%

ETH Futures Updates

Total ETH Open Interest: $20.29B (-1.90%)

ETH Volume (24H): $39.72B (+5.64%)

ETH Liquidations (24H): $13.98M (Long)/$33.65M (Short)

Long/Short Ratio: 50.77%/49.23%

Funding Rate: 0.0054%

Top 3 OI Surges

COMP: $65.64M (+257.97%)

LUCE: $13.06M (+246.59%)

kBONK: $16.91M (+149.82%)

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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